Agency Relationship - Ratification, Approval, and Urgency

Agency Relationship - Ratification, Approval, and Urgency somebody

An agency relationship cannot be established without the approval of the "principal." It can be created if the principal "ratifies" it afterwards, if the agent's actions suggest it, or in an urgent situation.


These are questions that the above text answers:

2. What are the ways in which an agency relationship can be created?
4. In what situations can an agency relationship be created in an urgent manner?
6. What is the role of the principal in establishing an agency relationship?
8. What is the significance of ratification in the establishment of an agency relationship?
10. Can an agency relationship be established without any form of approval or ratification?
Public
Off